Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Plan and prepare initial contact

1.1 Interpret and confirm client’s written instructions and any of their relevant policy and procedures

1.2 Review comments on debtor's file to enable initial action in line with own organisation’s policy and procedures, and legislative requirements

2. Assess debtor

2.1 Establish credit worthiness of debtor through compilation of valid and relevant credit history

2.2 Cross-reference information on debtor for verification, when necessary, by file or document search

2.3 Determine appropriate and cost-effective recovery action options based on debtor's verified credit worthiness

3. Negotiate debt payment or settlement within defined parameters

3.1 Use appropriate means of communication to establish contact and build rapport with debtor

3.2 Develop debt settlement proposal that attempts mutual satisfaction for client and debtor, applying negotiation techniques, organisational guidelines and appropriate industry codes of conduct

3.3 Discuss debt settlement proposal with management and document reasons for proceeding or not proceeding, or taking further action

3.4 Confirm and record debtor and creditor agreement, and procedures for debt settlement

3.5 Make decision to refer debt for legal action, if necessary, in line with organisational policy and procedures

Skill 

Performance Criteria 

Description 

Reading

1.1, 1.2, 3.1

• Interprets documentation from a variety of sources and consolidates information relevant to credit application

Writing

3.1, 3.3, 3.4

• Drafts reports and letters, and completes credit application records
• Records agreements and documents decisions during negotiations

Oral Communication

3.1, 3.2, 3.3, 3.4

• Uses language and concepts appropriate to the audience and purpose to convey and clarify information
• Uses questioning and active listening to determine and confirm debt and debt settlement requirements

Numeracy

2.1, 2.2, 2.3

• Accurately analyses, records and stores data in accordance with organisational requirements
• Calculates debt status and settlement payments

Navigate the world of work

1.2, 3.2, 3.3, 3.5

• Takes responsibility for adhering to organisational policy and guidelines relevant to own work context
• Recognises and follows explicit and implicit protocols

Interact with others

3.1, 3.2

• Selects the appropriate form, channel and mode of communication to build rapport, liaise with others and share information
• Implements strategies to moderate conflict and resolve disputes
• Negotiates with others to achieve agreeable outcomes in potentially contentious situations

Get the work done

1.1, 1.2, 2.1-2.3, 3.3-3.5

• Clearly and thoroughly analyses tasks, then plans strategies and actions to achieve optimal outcomes within given parameters
• Adopts efficient and effective organisational and time management skills to sequence tasks, meet timelines and arrange meetings
• Makes decisions and recommendations that lead to best possible outcomes for all stakeholders, including referral to other authorities as necessary
• Identifies factors that have the potential to impact on the resolution of an issue and develops options to resolve these when they arise
• Uses a range of digitally based technologies and software packages to complete work tasks

Code and title 

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNSMCA301 Collect debts

FNSMCA301A Collect debts

Updated to meet Standards for Training Packages Rewritten and clarified performance criteria

Equivalent unit

Release 

Comments 

Release 1

This version first released with FNS Financial Services Training Package Version 1.0.